Archive for January, 2011
Is Buying A Home Still Financially Better Than Renting?
The Abbey produced their annual report this week that compared the financial cost of renting a home as opposed to buying the same home. Last year, the report showed that over the period of a 25 year mortgage the home buyer would save £24,000. This year’s report has reduced that figure to just £5,811, or a little bit over £230 saved per year.
So is it worth buying your own home or should more of us be looking at renting
Tags: arrangement fees, house price, house prices, maintenance costs, mortgage payments, renter, renting a home, report doesn, sum of money, year mortgageRelated posts
If You Don’t Have Renters Insurance, You Could Be Out of Luck
When you own your own home, you’re required to have a home owner’s insurance policy to cover any damage that occurs to your dwelling and all of your belongings. When you are a renter, you’re under the same basic obligation. Just because someone else owns the building you’re living in, does not mean that they are legally or financially obligated to take care of damage or destruction. Renter’s insurance is a must for anyone who rents a property.
The importance of renters insurance doesn’t always seem to grab the attention of those who are signing a rental agreement, even though it’s spelled out in black and white on paper. Many of us carelessly toss of the fact that something could happen and we’d be left with nothing if we don’t get coverage.
Tags: belongings, dotted line, fire weather, heart break, insurance policy, rental agreement, rental property, renter, renters insurance, shamblesRelated posts